What were shareholders thinking? Shares of retailer
Bed Bath & Beyond
zoomed 179%, to $3.49 this past week, despite the retailer warning of a possible bankruptcy.
One explanation: Meme stock mania is back. Stocks like
AMC Entertainment
and
GameStop
rose 31% and 24%, respectively, this past week. Investors may hope for a repeat of
Hertz Global Holdings
which saw its stock surge as it neared bankruptcy in May 2020, helping to put Reddit’s WallStreetBets forum on the map. Hertz was a rare case of shareholders of a bankrupt company getting rewarded, as cash problems spurred by pandemic lockdowns gave way to surging demand in 2021.
Source: https://www.barrons.com/articles/bed-bath-beyond-ponders-bankruptcy-exciting-the-meme-crowd-51673658091?siteid=yhoof2&yptr=yahoo
Bed Bath & Beyond Ponders Bankruptcy, Exciting the Meme Crowd
What were shareholders thinking? Shares of retailer
Bed Bath & Beyond
zoomed 179%, to $3.49 this past week, despite the retailer warning of a possible bankruptcy.
One explanation: Meme stock mania is back. Stocks like
AMC Entertainment
and
GameStop
rose 31% and 24%, respectively, this past week. Investors may hope for a repeat of
Hertz Global Holdings
which saw its stock surge as it neared bankruptcy in May 2020, helping to put Reddit’s WallStreetBets forum on the map. Hertz was a rare case of shareholders of a bankrupt company getting rewarded, as cash problems spurred by pandemic lockdowns gave way to surging demand in 2021.
Source: https://www.barrons.com/articles/bed-bath-beyond-ponders-bankruptcy-exciting-the-meme-crowd-51673658091?siteid=yhoof2&yptr=yahoo